My wife and I have 4 kids,can we claim all of them?
2007-01-05 10:34:38 · 7 answers · asked by SCORPIO LOVER 1 in Business & Finance ➔ Taxes ➔ United States
As long as they met the rules for dependents, which is normal for kids, there is no limit to the number of dependents you can claim. As others have said, certain credits, such as the EIC, don't increase with additional dependents beyond 2.
I've found most of the questions here are answered by reading the instructions for the 1040. Yours is one of them.
2007-01-05 11:52:53 · answer #1 · answered by STEVEN F 7 · 1⤊ 0⤋
Yup. There are single people that claim 4, 5, 6 people. etc. Of course the risk is that you could end up owing big at the end of the year. But, you'll have more in your check on a week to week basis.
2007-01-05 10:37:56 · answer #2 · answered by jobacle 1 · 0⤊ 1⤋
Are the all under 18 and do you provide over half of their support during the year? Then yes.
2007-01-05 10:37:01 · answer #3 · answered by Uncle Pennybags 7 · 1⤊ 0⤋
Sure, why not?
However, if you qualify for EIC (your income is under $39K), you can only use 2 of them for that credit, but you can use all 4 for dependents.
WealthBuilder
Tax Specialist
2007-01-05 10:37:42 · answer #4 · answered by WealthBuilder 4 · 2⤊ 0⤋
I think that there could be at least one way to get deductions. try talking to your tax agent
2007-01-05 10:37:17 · answer #5 · answered by Jaques Cluzo 2 · 0⤊ 0⤋
I guess it all depends on what you want to claim them for.
2007-01-05 10:37:41 · answer #6 · answered by The Cythian 3 · 0⤊ 0⤋
Yes.
2007-01-05 10:36:47 · answer #7 · answered by Steve 6 · 0⤊ 0⤋